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Exception Tracking Spreadsheet (TicklerTrax™)
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TransUnion sub agrees not to seek contract with CFPB for 3 years

The CFPB has posted a Bureau Blog entry, "Holding Government Contractors Accountable for Wrongdoing," to announce that Argus Information and Advisory Services, a subsidiary of TransUnion, has agreed in writing that it will not seek any government contract with the Consumer Financial Protection Bureau for three years.

In March 2024, the Department of Justice took action against Argus to resolve claims that the company violated the False Claims Act and the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), in connection with its access to and use of credit card data obtained pursuant to contracts with various federal regulators. The Department of Justice alleged that Argus ingested information in violation of its federal government contracts and improperly monetized it in its commercial business. Argus paid $37 million to resolve these allegations.

The CFPB was one of many federal financial regulators with a contractual arrangement with Argus. The CFPB notified the TransUnion affiliate that it was considering additional actions, and Argus has now committed to the CFPB that it will not seek any contracts for three years.

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